OTP bank retail news

OTP Group posted HUF 28.3 billion adjusted profit in 1Q 2015 which means a 20% decline y-o-y, but massively exceeds the previous quarter. The significant quarterly improvement is reasoned mainly by lower risk costs, but the operating profit also improved by 8%. The quarterly accounting profit was HUF 1.9 billion versus a profit of HUF 10.9 billion in the previous quarter and HUF 5.9 billion in 4Q 2014. In 1Q 2015 the total volume of adjustments amounted to -HUF 26.4 billion. The most important adjustment items were the special banking tax imposed on the Hungarian and Slovakian banks (HUF -28...

In 2014, OTP banka continued to strengthen its market shares in all strategic segments. With the successful integration of BPC and fully covered acquisition costs, OTP banka recorded profit. Along with successful integration of Banco Popolare Croatia, OTP banka ended 2014 with HRK 155.2 million net profit. Banking business operations exceeded planned values in the segment of operating income and lower operating costs. Income from interest in the previous year was under the negative impact of the reduction of interest rates on retail loans, conditioned by the drop of the reference interest...

After seven months, the process of integrating of the two banks is successfully completed. On December 1, 2014, legal and IT integrations of Banco Popolare Croatia into the OTP banka system were finalized. Decision made by the Commercial Court in Zadar on December 1, 2014 OTP banka concluded legal integration process of Banco Popolare Croatia. OTP banka started the integration project after the purchase of BPC on April 24 this year. In an impressive period of only seven months the integration was prepared, while preparations for technical integrations were concluded within four months....